Quicksilver Resources Announces Successful Completion of Its Consent Solicitation With Respect to Its 9 1/8% Senior Notes Due 2019

Wednesday, June 12, 2013

Quicksilver Resources Announces Successful Completion of Its Consent Solicitation With Respect to Its 9 1/8% Senior Notes Due 2019

13:10 EDT Wednesday, June 12, 2013

FORT WORTH, Texas, June 12, 2013 (GLOBE NEWSWIRE) -- Quicksilver Resources Inc. ("Quicksilver") (NYSE:KWK) announced today that it has received the consents necessary to effect certain amendments (the "Amendments") to the indenture (as supplemented, the "Indenture") governing its 9 1/8% Senior Notes due 2019 (the "2019 Senior Notes"). The consents to the Amendments are upon the terms and subject to the conditions set forth in a Consent Solicitation Statement (as it may be amended or supplemented from time to time, the "Consent Solicitation Statement") dated as of May 23, 2013.

The Amendments are effected by a supplemental indenture to the Indenture (the "Supplemental Indenture") that is described in more detail in the Consent Solicitation Statement.

Quicksilver received the consents of holders of a majority of the aggregate principal amount of the Notes prior to the expiration time of 5:00 P.M., Eastern Time, on June 6, 2013. Quicksilver will make a cash payment of $40.00 for each $1,000 in aggregate principal amount of 2019 Senior Notes for which a consent was validly delivered in accordance with the terms and conditions of the Consent Solicitation Statement. The Company entered into the Supplemental Indenture on June 12, 2013, but the Supplemental Indenture will not become operative until the consents have been paid for. Quicksilver will make the payments for the consents on June 21, 2013.

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any 2019 Senior Notes or any other securities. This announcement is also not a solicitation of consents with respect to the Amendments or any securities.

About Quicksilver Resources

Fort Worth, Texas-based Quicksilver is an independent oil and gas company engaged in the exploration, development and acquisition of oil and gas, primarily from unconventional reservoirs including gas from shales and coal beds in North America. Quicksilver's Canadian subsidiary, Quicksilver Resources Canada Inc., is headquartered in Calgary, Alberta.

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